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NCD Status: Closed [5th Apr 2024 to 12th Apr 2024]
ICL Fincrop Limited is issuing secured and redeemable NCDs with a base issue size of Rs 75.00 Cr. The subscription period is opening from 05 Apr to 23 Apr 2024 and the company is issuing Series I to X at an issue price of Rs. 1000 per NCD. The lot size of NCD is about of 10 lots , so the total cost for NCD is Rs 10,000. The face value of each NCD is Rs. 1000. The tenure of the NCDs are13, 24, 36, 60 and 68 months with a coupon rate of 11.00% to 13.73% per annum.
Learn more about ICL Fincrop Limited including credit rating, coupon rates for each series, basis of allotment, payment frequency and more.
| NCD Opening Date: | 5th Apr 2024 |
| NCD Closing Date: | 12th Apr 2024 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹75.00Cr |
| Issue Size (Shelf): | |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE |
| Tenor: | 13, 24, 36, 60 and 68 months |
| Rating: | ACUITE BBB- by Acuite Ratings and Research Limited |
| Series: | Series I to X |
| Payment Frequency: | Monthly, Annual and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 5th Apr 2024 |
| NCD Issue Close | 12th Apr 2024 |
| BSE Code: | 3386 |
| BSE Script Symbol: | ICLII |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 7500 | 1% |
| Non-Institutional | 7500 | 1% |
| HNI | 225000 | 30% |
| Retail | 510000 | 68% |
ICL Fincrop Limited is a non-banking finance company (“NBFC”) offering gold loans and lending money against pledge of household gold (“Gold Loans") in the states of Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Odisha, Gujarat and Maharashtra".
This Company has commenced a regulated financial services business in Chennai with a certificate of registration dated August 18, 1999, issued by the RBI with registration number 07,00437. The company has created its own identity and brand value in the NBFC sector. The company plays a dynamic role in the financial industry and has done remarkable work in the last few decades. The brand is present in five South Indian states including Kerala, Tamil Nadu, Andhra Pradesh, Karnataka and Telangana and has branches in Odisha, Maharashtra and Gujarat.
The company specializes in extending gold loans to individuals, with a particular focus on middle-class families. The gold loan business is underpinned by a dedication to customer-centricity, operational efficiency, and the provision of seamless financial services. Emphasizing customer service, efficient loan disbursement, and the establishment of a capable local management team, the company has made strategic investments in technology and streamlined processes to facilitate expedient and straightforward customer registration.
ICL Fincorp Limited's revenue increased by 25.95% and profit after tax (PAT) rose by 11.86% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 563.98 | 527.66 | 458.64 | 374.68 |
| Revenue | 36.13 | 112.64 | 89.43 | 72.13 |
| Profit After Tax | 0.86 | 3.04 | 2.71 | 2.80 |
| Amount in ₹ Crore | ||||
The company proposes to utilise the funds which are being raised through the Issue towards funding the following objects
ICL Fincorp Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Cumulative | Cumulative | Cumulative | Annual | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 13 Months | 24 Months | 36 Months | 60 Months | 13 Months | 24 Months | 36 Months | 24 Months | 36 Months | 68 Months |
| Coupon (% per Annum) | 11.00% | 11.50% | 12.00% | 12.50% | NA | NA | NA | 11.75% | 12.25% | NA |
| Effective Yield (% per Annum) | 11.57% | 12.13% | 12.68% | 13.24% | 11.55% | 12.36% | 13.03% | 11.75% | 12.25% | 13.73% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,125.16 | Rs 1,245.40 | Rs 1,473.83 | Rs 1,000.00 | Rs 1,000.00 | Rs 2,000.00 |
The promoter of the company is Kuzhuppilly Govinda Menon Anilkumar
The NCDs proposed to be issued under this Issue have been rated ACUITE BBB- by Acuite Ratings and Research Limited, with such ratings considered to have a stable outlook.
Last Updated on 2024-04-15T06:32:54+00:00
